Beverly Hills Private Wealth LLC increased its stake in shares of Tsakos Energy Navigation Limited (NYSE:TNP – Free Report) by 97.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,238 shares of the shipping company’s stock after acquiring an additional 9,970 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Tsakos Energy Navigation were worth $422,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other large investors have also bought and sold shares of TNP. Acadian Asset Management LLC grew its holdings in shares of Tsakos Energy Navigation by 371.8% in the first quarter. Acadian Asset Management LLC now owns 347,550 shares of the shipping company’s stock worth $6,745,000 after purchasing an additional 273,882 shares during the last quarter. Navellier & Associates Inc. grew its holdings in Tsakos Energy Navigation by 2.9% in the 2nd quarter. Navellier & Associates Inc. now owns 26,913 shares of the shipping company’s stock worth $480,000 after acquiring an additional 762 shares during the last quarter. Portside Wealth Group LLC bought a new position in shares of Tsakos Energy Navigation during the second quarter valued at about $1,539,000. Point72 Asset Management L.P. purchased a new stake in shares of Tsakos Energy Navigation during the fourth quarter worth about $47,000. Finally, Citigroup Inc. bought a new stake in shares of Tsakos Energy Navigation in the fourth quarter worth about $32,000. 21.18% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Several equities research analysts have weighed in on TNP shares. Jefferies Financial Group reiterated a “buy” rating and issued a $28.00 price objective on shares of Tsakos Energy Navigation in a report on Thursday, August 31st. StockNews.com downgraded shares of Tsakos Energy Navigation from a “buy” rating to a “hold” rating in a research report on Wednesday.
Get Our Latest Stock Analysis on TNP
Tsakos Energy Navigation Stock Down 2.0 %
TNP stock opened at $21.08 on Friday. The stock has a market capitalization of $622.07 million, a P/E ratio of 1.76 and a beta of 0.11. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.54 and a quick ratio of 1.49. Tsakos Energy Navigation Limited has a 1-year low of $15.00 and a 1-year high of $24.78. The business has a fifty day moving average price of $20.96 and a 200-day moving average price of $19.44.
Tsakos Energy Navigation (NYSE:TNP – Get Free Report) last issued its earnings results on Thursday, September 7th. The shipping company reported $1.65 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.05. The business had revenue of $182.56 million during the quarter, compared to analyst estimates of $174.10 million. Tsakos Energy Navigation had a return on equity of 39.40% and a net margin of 39.90%. During the same quarter in the previous year, the firm earned $1.31 EPS. Equities analysts forecast that Tsakos Energy Navigation Limited will post 8 earnings per share for the current fiscal year.
Tsakos Energy Navigation Increases Dividend
The business also recently announced a Semi-Annual dividend, which was paid on Thursday, October 26th. Investors of record on Friday, October 20th were issued a $0.70 dividend. The ex-dividend date was Thursday, October 19th. This represents a yield of 3%. This is a boost from Tsakos Energy Navigation’s previous Semi-Annual dividend of $0.30. Tsakos Energy Navigation’s dividend payout ratio (DPR) is currently 5.00%.
About Tsakos Energy Navigation
Tsakos Energy Navigation Limited provides seaborne crude oil and petroleum product transportation services worldwide. The company offers marine transportation services for national, major, and other independent oil companies and refiners under long, medium, and short-term charters. It also operates a fleet of double-hull vessels, comprising of conventional tankers, LNG carriers, and suezmax DP2 shuttle tankers.
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